Nailing It Down
By Dave Murnen and Pat Beaty
We hope you enjoyed a particularly satisfying Thanksgiving with friends and family. There is a bit of irony, isn’t there, that in our rush to buy gifts for Christmas, taking time to be grateful for what we have gets short shrift!
Christmas and the rest of the holiday season is a wonderful time, and we don’t want to sound like Scrooge. However, after years of helping people with budgets and difficult financial situations, over and over again we have seen that overspending at the holidays can make for some pretty tight budgets come January and February.
In fact, sometimes it’s the big splurge during the holidays that means a family goes into the debt abyss, andit can take months or years to climb out.
With Black Friday yesterday, we hope we aren’t getting to you too late!
MONEY DOESN’T buy HAPPINESS
As we all know, money doesn’t equal happiness. Of course, the same goes for expensive gifts. And while it’s out of a generous heart that people tend to overspend at Christmas — particularly on kids and grandkids — those same loved ones can feel just as loved if you give them something that’s more within your budget.
Even though money doesn’t buy happiness, it sure comes in handy when paying the bills and living life.
Also, today is Small Business Saturday. As you shop this year, save some gas money and explore some of our local businesses. Shopping on the Harbor helps our local economy.
NOT TOO LATE TO BUDGET
If you haven’t put aside a little Christmas fund ahead of time, often you can find places to cut in your December monthly budget. Eating out, coffee, entertainment, clothes and other things for yourself are all good places to look.
Once you’ve determined how much you have to spend for the holidays, you’ll want to break it down into a few categories. For most people, gift buying is at the top of the list, but don’t forget extra grocery money if you’ll be entertaining or baking a lot, and travel expenses if you’re headed out of town.
Next is the awkward part for some: List everyone you plan to give gifts to, and put a dollar amount next to their name. (Don’t worry; you are the only one who will see this list.) As obvious as it is, make sure the numbers add up to the amount of money you actually have to spend.
MONEY-SAVING SUGGESTIONS
The research has shown again and again that if you actually write out a budget, you are much more likely to follow it than if you just have an idea in your head. Putting pen to paper (or thumb to smartphone) is critical to being successful.
If it is not too late, consider drawing names within groups you typically buy individual gifts for. Quite possibly, others in the group will also be relieved that their gift budget won’t be so strained.
Another possibility is to move for a bigger “family” gift for each household, instead of individual gifts for each person in that family.
Decide on a theme for the year. You might buy everyone on your list socks, or books, or a particular tool, or gift certificates to a favorite restaurant. Often you can get economies of scale when you buy all at one time, and you certainly will save time and gas money.
Speaking of time, it truly is more precious than money. What about creating personal gift certificates to offer help for needed chores? Or you could call an elderly relative or friend you typically buy a gift for, and tell them you are offering your services before Christmas as a gift to them. Decide on a date and arrive with a poinsettia or some cookies, and spend an hour or two working on their “to do” list. This is also a good thing to encourage children to do for their grandparents.
Make something yourself. Even if you don’t feel crafty, there’s likely something you could find on Pinterest or elsewhere online that you could make for some of the folks on your list.
On the other side of the ledger, this is a good time of year to sell some items on the many sites available — both national and local. That old dresser you aren’t using could be a blessing to someone else and bring you a needed $50 or $75.
Shop the deals! Take a little time to plan your attack, be it shopping online or in brick-and-mortar stores. There truly are many deals available. Check prices between stores, and look for special sales or coupons. Those savings add up.
However, remember no matter how good a “deal” seems, if you can’t afford it and end up paying interest on your credit card for months, it’s not a deal.
Sometimes hosting a holiday dinner, party or open house can serve as your gift to a particular group of people. You spread Christmas cheer, but save time and money.
What about talking with that group — relatives, co-workers or friends — and deciding together to forgo buying presents for each other? Save a portion of that money and use the rest to “adopt” a family through one of the many local not-for-profit organizations, such as the Union Gospel Mission, Salvation Army, United Way, or your church or service club. Working together to brighten someone else’s Christmas might become one of your favorite holiday memories.
Dave Murnen and Pat Beaty are construction specialists at NeighborWorks of Grays Harbor County, where Murnen is executive director. This is a nonprofit organization committed to creating safe and affordable housing for all residents of Grays Harbor County. For questions about home repair, renting, remodeling or buying, call 360-533-7828 or visit 710 E. Market St. in Aberdeen. Our office is fully ADA-compliant.
